Global Big Data Market to Reach a Value of USD 1777.90 million

The increased use of big data analytics by governments to improve smart cities and people's quality of life is what is driving the market for big data in smarter cities. The Internet of Things (IoT) and big data analytics are combined to make cities smarter and more sensible. Smart cities include both the essentials and cutting-edge technology for comfortable and high-quality living. Big Data makes it easier to develop smart cities by providing useful insights from vast amounts of data gathered from diverse data producers. As a result, the big data market in smarter cities will further propel over the forecast period.

Global big data market in smarter cities was valued at USD 211.36 million in 2021 and is expected to reach USD 1777.90 million by 2029, registering a CAGR of 30.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Smart cities have adopted smart governance, smart energy, smart buildings, smart mobility, smart infrastructure, smart technology, smart healthcare, and smart citizen solutions and technologies. Big Data makes it easier to develop smart cities by providing useful insights from vast amounts of data gathered from diverse data producers.

The smart cities have largely changed the human existence. Living in a smart environment is now feasible because to the transition from conventional computer to advanced computing with an increase in linking gadgets and sensors. Urbanization depends on social and communication infrastructure in addition to physical infrastructure. The big data and internet of things (IoT) have contributed significantly to the success of the smart city programme by providing a significant amount of data gathered from diverse sources. Unstructured data gathered through various methods makes up the majority of such data.

Through highly networked services, IoT enables the integration of sensors, actuators, radio frequency, and Bluetooth in a real environment. Big data is becoming more important in creating smart cities due to the increased emphasis on efficiency brought on by rising urbanization.

The governments around the world have played a significant role in the smart cities business through rules and programmes aimed at deploying smart services as a significant component of their infrastructure. For instance, the General Services Administration's (GSA) Smart Building initiative, launched in May 2012, sought to lower costs and promote smart services through upgraded federal government buildings, largely through connected technologies. As a result of its emphasis on energy and climate goals, the market for smart cities in Europe is anticipated to expand significantly.